Evening Star Newspaper, May 28, 1923, Page 25

FINANCIAL 310 PRODUCTION O HGHEST PEED Jdtfiing Other Than Seasonal "58jump’ So Far Noted by Big Manufacturers. BY J. C. ROYLE, ch to The Star. < NEW -YORK, May 28—The largest )‘acl,arv— in the automobile business to- Gy 13 the rumor factory. The output of rumors -of a slump in automobile manufacture is tremendous, prompt- ed, it is believed, by the recent slump in the stock market. Yet a survey todey of leading plants of the country does not bear out reports that serious changes are taking place. It is true that a numbrr of smaller concerns nd one or two of the larger fac- ories. have felt a recession in orders, ut the losses recorded are being more than offset by the gains in other plants. “Sales are holding up strong with us” H. M. Jewett, president of the Paige-Jewett Company, sald today. “We are obtaining many new orders from the west and southwest. There may be the usual seasonal let-up during the next sixty days in the in- ustry as a whole, but there s noth- 298 to indicate it vet. © Big Gain in Export Sales. Président Hastings' of the Hupp Motor Car Company agreed with this exposition of tho situation and added: “Our export fales this year will be from two to_three times as large as last year. Export shipments for the first four months of 1923 were triple those of the corresponding months of 1922. Business is good with us and we see nothing to make us change our minds as to the future. . “Taken by and large, the industry fas only siowed up in those plants whose products has not carved out an individual sales demand for itself. it seems now as if the vigorous sales campaigns of the leaders are taking busipess away from the followers, competition is keener and plants are fighting harder to hold their own. If this trend continues thirtv days we may expect price reductions in one or two instances.”™ May Production Soaring. Tt seems likely that the May auto- mobile” outuput will exceed that of April by at least 5 per cent. Making full allowance for a possible falling off in one or two plants, the total for May is estimated conservatively at 370,000 vehicles, compared with 265,000 for April. The Ford May output will exceed the April record of 140.000 by several thoufand cars. Chevrolet will touch 46,000 in May, compared with 39,000 n' April. Packard and Hupp are going strong and are still behind with orders. The Buick factories will show « a record of possibly 2.000 to 23,000 oars. Studebaker, with its capacity output of 670 a day, in both the De- troit and South Bend plants, will not fall behind April. Five thousand is predicted as the May output for Paige-Jewett Dodge Brothers stated today that the peak of Dodge sales will not be reached for another thirty days. Con- trafy to reports, Dodge executives say. they are not storing any cars or releasing employes. The Dodge out- ;puti now is-approximately 750 cars a day. . Slump in Industry Denied. “Taking the corporation as a whole, we aré planning on increasing output rather than decreasing it,” C. S. Mott, vice president of the. General Motors ‘Corporation, sald. “I am sur- prised to hear comments that the in- dustry has begun to slump. It is not true in General Motors, although some {divisions are experiencing the usual Jspring lull. “Positive Indications of this prosper- ous_condition are found in demands made by some of our divisions for authority to contract for materials beyond four months in advance, the perfod in which they may make such contracts without special approval of the appropriations committee. If business were slumping these for- ward commitments would be on the decrease.” Harvest beginning to et into circulation in the south- fi-uz, and_the lull in retail business has passed as a result. Merchan for a time did little business out- side of the big towns, but with thou- sands of ‘workers getting into the oat and wheat fields of Texas trade is increasing in the rural districts. Cut- ting of grain now is active in the central districts of the state and the firét call for workers from Kansas and Missouri has been made. Texas will require the jmportation of at least 1,000 harvest hands by June 20. money is Market Flashes at Today’s Close The next move in Senator La Fol- lette's fight on higher railroad valua- tion will be demand on the Interstate Commerce Commission that it deter- mine original investment of lines as well as reproduction cost. * Gasoline consumption as reported by bureau of mines for first quarter 1923 indicates total consumption for year, including exports, will range from 7.900,000,000 to 8,500.000,000 gallons. 1llinois Central system reports for four months ended April 30 net oper- ating _income $9,805,286, against 1. 601,466 same period last year. New York Central for four months ended April 30 reports net operating jncome $22,172,757, against $16,394,- 18 same period 1922 Panama canal ‘tolls on last Saturday amounted 40 $136,000. This was firet time they exceeded $100,000 for a sin- gle day. Intercoastal shipment of oil largely responsible for boom in canal toll receipts. Coca Cola_directors today - declared a $1.75 dividend. CAR SERVICE RESUMED. SCHENECTADY. N. Y. May 28.— The first car to be operated on the lines of the Schenectady Railway Company ‘since the walkout of em- ploves more than a week ago left the batp. this morning, escorted by a sqyuadron of motor cycle police, —_—_ 14+ BOSTON STOCK MARK BOSTON, May 28.—Following jista-of today's highest, Jlosias” prices for the +/stockes. dealt in here: Adower. . Anmeek Am Tel & Tei. Amorkens .- A n_Cons -Arfna Com ‘Buskhwm Ms Beaton & Albany Faaton &. Maine. Boston-Elovated Cajumet & Arizon umet & Hecla. is a lowest and most active Libby MeNeil & Libby Mass. Gas .. Mayfower O Mexican Tnves Utah Metal tura Oil NEW YORK CURB Received by Private Wire Direct to The Star Office. BY WILLIAM F. HEFFERNAN, NEW YORK, May 28.—Stocks on the curb exchange moved irregularly throughout the greater part of to- day's session. Buying creations were smaller on the closing days of last week and the disposition on the part of those who had purchased at lower levels was to take profits wherever avallable. Selling of this character served to de- press certaln sections of the market from time to time, but was felt chiefly in recent Industrial leaders. South Penn, Magnolia Petroleum and Eureka Plpe Line among the Standard Olls stood out prominently while losses of a half point or to a point or so occurred in Standard of New York, Imperial Ol of Canada and Standard ‘of Indiana as a result of profit taking. Maracaibo maintained its place of leadership for & time among the inde- NEW YORK, May 28.—Following is an official list of bonds and stocks traded in on the New York Curb Mar- ket today: BONDS Hikh. 103% Low. 1083% 1053 043 100%, 0874 100% 10135 103 1083 Am Gas & Elec 6s 15 Am Sumat Tob Am Roll Mills 6x Am T & T 6s Anaconda 8s 3 Anaconda 129, Anglo Am Oil Tigs.. Ar & Co of Del bigs Can Pac s Cent Steel s Charcoal Co Am 85 Detroit (i Detroit Edison 6s .. Dun Tire & Rub 7% Fed L'd B'k 4138 42 Federal Sugar 6s.. eral Sugar 6s "33 Fisher Body s '2 Fisher Hody 68 Fisher Hody s *25. rand Trunk 8igs. Hocking Valley 6s Hood Rubber T 5 Interb R T R Kennecott Cop 2 Libby MeN & L L. Wineh, Ley r e ieville' G & B Manitoba Power 78 2 Maracaibo Ol at Leather Ss at Acme 7Tizs. New Or Pub Serv Penn Pow & Lt 2 Phila Elec 8s .. Phillip P 748 w w Pab Ser of N J Ts.. Pub Ser El_Pow 6s Sears-Roeb Ts '23.. Shawsheen Ts loks-Sheft s Solvey et Cie 83 . Southern Cal Ed SONTY G Tidal Osage s Union OIl 68 B '26 1004, Tnited Ol Prod 8s 10213 2 Vacuum Ol Ts. FOREIGN BONDS. 20 King of Nether 8s.. 10015 30 Mexican Gort 6s.... 63 2 Republic of Peru Re. K3 0 o8 88U S of Mexico 45.. 44 4315 Sales STANDARD OIL ISSUES. in units, Anglo-Am Oil .. 700 Atiantic Lobos . 20 Rorne Scrymser. 50 Buckere P L E P L. 5 Gal Big Oil 500 Humble 0 & B I P L......... 100 Tmp OIl of Can 25 Ind P 10500 Intl Pet 10 New York Transi 10 Northern P L. 100 Ohio Oil new. 190 Prairie Oil & G 20 Rolar Refin outh Penn Ol Southern P 21100 S 0 Ind 900 S 0 K. 10 8 0 Ohio. . 2600 Vacuum Oil' ne 6% Washington Stock Exchange. SALES. Washington Gas 55—$500 at 94, Copital Traction Co.—10 at 9%, 6 at 98%, ington Rwy. & Elec. com.—10 at 641, 10 at 683, Commeréial National Bank—10 at 142, 4 at American Security and Trust Co—1 at 31715, 1 at 8161, Lanston Monotype—10 at 79%. AFTER CALL. s 58—$1,000 at 931;. n National Bank—$ at 156, Light—10 at 50%. s, 5 and 6 per cent BONDS. Bid and Asked Prices. POBLIC UTILITY. Bia. American Tel. & Tel 3 American Tel, & Telga. 4 Am. Tel. & Tel. ctl. tr. os. Washington Federal-Ameri Asked. 92 C. & P. Telephone Chesapeake & Po T Capital Traction R. R. b City & Suburban Bs. Metropolitan R. R. Bs. Potomac Electric Ist &s. Potomac Electric cons. 33, Potomac Elec, deb, 0s. Potomac Elec. Power Washington Gas 73, Washington Rwy. & Elec. 4s,... Rwy & Elec. g. m. 6s.. MISCELLANEOUS, D. C. Paper Mfg. 6s. Riggs Reaity Gs Riggs Realty Ds (short) Recurity Storage & Safe Dej Wash. Mkt. Cold Storage Bs. Wardman Park Hotel 6s. STOCKS. PUBLIC UTILITY. American Tol. & Telga. Z Capital Traction. Washington : rfolk & b, Steamboat. .. Washington Rwy.’ & Elec. com.. Washington Rwy. & Elec. pfd Terminal Taxl com. NATIONAL BANK. Capital Columbia Commerciai District Farmers ‘& Mechanics’ Federal-American ... American Security & Trust. Continental Trust. SAVINGS BANK. Commerce and Savings.. \n{iu, Security Savings and Com.. Seventh Street. American Corcoran, Firemers Nationat URIOR.. . rvroves = TITLE INSURANCE. Columbla Title. Real Estate Title.. MISCELLANEOU! bia Graphophone com. g}::b Graphophone pfd. Riosinante: Transter & Storage. i Mergenthaler Linotype. 0Old Dutch Market com.. Old Dutch Market pfd. Monotype. pendents, getting up to & new high well above 25, but subsequently came off with the rest of the market. Ru- mors that other large oll Interests have been negotlating from time to time for rights to operate in the Mara- calbo basin on a royalty basis probably has been an incentive for the per- sistent strength here. Derby Oll and Gulf Ofl were offered down early in the day and Southern States was an- other that was weak. Todd Ship Yards, after its recent sharp advance, opened over four points below last week's final, but later re- gained a good part of the loss. The MEETING WILL SETTLE |POWER FIRM WILL FATE OF RAILROAD FINANCIAL BALTIMORE, May 28.—Conferences to be held this week in Baltimore robably will settle definitely the uture of the Maryland, Delaware and Virginia rallroad, the sale of which by trustees is expected to be con- firmed by the United States district court June 5. There is hope on the part of interested parties that a way may be worked out by which opera- tion of the line from Love Point, Md., | to_Lewes, Del., may continue. Participating in the conference EXPEND $8,500,000 Famous Players Earinngs for Quar- ter—Other Wall Street | Briefs. i By the Associated Press. NEW YORK, May 28.—The North- Percy H. Russell S.W. Cor. 15th & “K” Sts. Dean, Onativia & Co, Exchange Building Stock B New York 7 e, STOCKS and BONDS COTTON GRAINS COFFEE - SUGAR with the public service commission | will be representatives of I5. B. Leaf jern States Power Company plans the & Co. of Philadelphia, who bid on the | expenditure of $8,600,000 in 1923 on property for 3$225.000; citizens Of|,qqitions to its plants. Of this amount T : senfeld Tow issue of American Stores was ac- | ot " Bnjeinononton: Jullus Rosen Garoline county, headed by Lawrence | ¢1,300,000 will be spent on the River- I WILL SELL MEMBERS: . New York Stock Exchange New York Cotton Exchange i Chicago Board of Trad: Chicago Stock Exchange & ade Amaocinte Mesmlices: of New York Produce Excharnge tively traded in at its top figure of 25 and “Hydrox Corporation moved up- ward, Realizing sales continued in Durant of Delaware, causing a break of about two points, while Stutz was again strong, showing that the rather dis- couraging report for 1922, recently published, had been discounted. Mining ' shares were active for a time, but with changes for the most part unimportant. Sales in hundreds. INDEPENDENT OIL STOCKS. 14 Ark Nat Gas.. 1 Roston Wy Oil. arrington Ol 5 Carib Synd . City Serv . City Serv City Serv Creole Syndicate Derby 0 & R w 3 Equity Pet pfc Federal 0l Gilliland O, Glen Rock O Hudson O Tnterstate Marland Maracaibo Mex Oil . . Midwest-Tex 01l Mount Prod 4 Mount Gult ... 1% 84 Mutual OIl votf cfs 11% 10 Noble Of) & Gas...,. .. ew Dirad Ofl w 1 2N Y ofl . 36 Omar OIl & Gar 1 Peer Oil Corp 18 Penn Beaver Ofi. . 21 Pennock O11 . 7 Phil Pet new w 1 Roval Can 0 &R. 5 Nalt Ck Cons 40 Southern P & 33 Sou States Ofl 61 Turman ON . 5 Wilcox Ofl & G L e INDUSTRIALS. 2 Acme Coal new . Acme Pack B e prd 3Ab G & Am Hawailan 8 S. Am Stores new Am Loco new w i, Ar & Co of Del pfd Borden & Co. . Kridgept Mach w' i 2 Brit-Am Tob (% Rrit'Am Tob ¢ 2 Dilyn Oits 1 Buddy Buds Campbell Sou 2 Car Light Cent Teresa 4 Centritug Tron Pipe. 3 Checker Cab Mfd A Chicago Nipple . Chic Steel Wheel. Chic Steel W ptd.. 1 Cox Cash Stores DL &W Coal . Douglas Pectin ' . Dubllier C & Radio Durant Motor . Dupont Moter sehoa G Goodrear “Tire”. anna M A 7-pe Tieyden Chem o, 1 Tud & Mann R R Hudson Co pfd ... Hrdrox Corp Inter Cont R Int Carbon ne Lehigh Power se Leader Prod ... McCrory Stores new Mercer Motor Midvale "Co ... 0. Nat Sup Co of Del N'Y Tel Co ptd .. Oselda Corp . Peerless Motor ... Phil Elee pfd. i Prima Radio Co .. . { Radio Corp ptd A Repetti Candy. Reo Mot . South C &1 new. Stutz Motor. Swift Intl Swift & ShmRef uraumarasa 1 god e e Todd Ship Tn Proft Shar new . v Pipe w 1 Wayne Coal . MDD Am Exploration ... Arizona Globe Cop. Relcher E: Big Ledge ... Rlack Hawk Roston Mont Co Butte & Western. (Canarlo Copper . Canario Copper Candelaria Min . .. . Columbia Emerald. Cons Cop M{ tmp cf Cortez Silver. Cresson Gold Tiolores Esper . East Butte Mine. Eureka Croesu Fortuna Mines 60 Goldfield Deep Mi 10 Goldfield Florence soldfleld Jacki 20 Goldteld Om T 80 Gold State 30 Harmill Div 10 Henrietta 81 7 Hill Top Nevada 1 Hecla Mine 14 Howe Sound . 37 110 Independence Lead .40 1 Jerome Develop . 214 7 Jib Cons 05 10 Lone Star . 04 10 La Rose Mines ... .33 30 Mason Valley 140 Marsh Mines 10 McN Cres Dev. 20 110 22 Mohican Cop 91: Tin 1 New Jersey Zinc 8 N X Porcupine. 1 Nipissing .. 38 Ohio Copper 10 Paterson Lake 7 Premier Gi 17 Ray Herc Inc. 1% 20 Red Hill Florence .02 40 Richmond Copper.. .18 10 Rochester Silver... .07 3 Salida Mines .... .62 11 8t. Croix Mine . 1% 80 8il Queen Min Corp .37 80 Sil Mines of Amer .14 10 Sil X Div Min_reor .09 2 Snowstorm Sil Lead 10 Simon Bilver 3 60 Spearhead Gold ... .1 10 Butherland Dev Min .10 28 Teck Hughes . 1 Tono Belmont . 66 Tonopah Divide 12 Tonopah Extens . 1 Tonopah Min . 10 Tri Builion o8 Mine " 313 U 8 Cont new w i . 4 Unity Gold ....... 4% 1 Verdemine Milling. 65 30 West End Consol 170 West End Ext 21 Yukon Gold NEW YORK EGG PRICES. NEW YORK, .May 28 —Eggs—Un- settled; receipts, 156,840 cases; fresh gathered, extra firsts, 28a29; do., firsts, 27a28; do., seconds, 26a26%. Fresh gathered storage packed extra firsts, 29%a30%; do., firsts, 28a29; New Jer- sey hennery whi locally selected, extras, 38a40; nearby hennery white: locally selected extras, 37a3s8; state, nearby and nearby western hen nery whites, first to - extras, 2! to 36; nearby hennery browns, ex- tras, 33 to 35. Pacific coast whites, extras, 36%a3ds; do., firsts to extra firsts, 32a36. CLOSING SUGAR PRICES. NEW YORK, May 28.—Sugar future closed easy: approximate sales 32, 000 tons; July, 6.46; September, 6.57; December, 4.78. ST. LO! 2 declined m&.’n( with of operate the line, Baltimore, who has interested capitalists in' a project to buy and and the Pennsyl- vanla system, holder of the stock con- trol of the Maryland, Delaware and Virginia, and its subsidiary, the Balti- more, Chesapeake and Atiantic, U. S. GRAIN EXPORTS DROP DURING WEEK Commerce Department Reports Difference of More Than 2,000,000 Bushels. Grain exports from the United States last week amounted to 4,452,- 000 bushels compared with 6.516,000 bushels the previous week. Totals of last week's grain exports, compared with those of the previous week, made public by the Commerce Department, follow: Barley, 283,000 bushels, against 10,000; corn, 602,000, against 924,000; oats, 20,000, against 189,000; Rye, 1 203,000, agalnst 633,000; wheat, 2, 844,000, against 4.760,000; flour, 1,906,- 000" barrels, against 181,500 Canadian graln in trains exported from the United States ports was 686,- 000, against 1,675,000 the previous week. TODAY'S METAL MARKET. NEW YORK, May 28.—Copper weak: electrolytic, spot =~ and futures, 15a 15%. Tin easler: spot and nearby, 4187 futures, 42.00. Iron stedy; No. 1 northern, 30.00a32.00; No. 2 north- ern, 29.00a31.00; No. 2 southern, 27.00 Lead steady: spot, 7.25. Zinc easfer: East St. Louis spot and nearby, 6:40a 6.45. Antimony, spot, 7.15a7.25 BIGGER SUGAR CROP SEEN. S. FRANCISCO, May 28.—(Spe- cial)—Hawaiian sugar production for this year was estimated today at 500,000 tons by Richard (. Trent, di- rector of the American Factors, Lim- ited, the largest sugar company in the ‘islands. Weather conditions, he said, have been ideal and considerable increase of 1922 production must re- sult from the additional acreage planted, RAIL REVENUES GAIN. CHICAGO, May 28.—Total operat- ing revenues of the Chicago and Northwestern railway for April were $12 compared to $10,666.009 in the same month last vear, it was an- nounced today. Total operating ex- penses aggregated $10,912,935, against $8,930,525 in April, 1922, FACTORIES ON FULL TIME. BROCKTON, M May 25.—While shoe manufactu estimated that fully 20 per cent mployes were at work today than on any day last s week, leaders of the craft unions on | strike asserted that only a few of the strikers had returned to their jobs. All the factories were running today on what was announced as a full-time schedul DIVIDEND INCREASED. W YORK, May 28.—The Cocoa Company today increased its quarterly dividend on common stock from $1.50 to $1.75. WALL STREET NOTES. NEW YORK, May 28 (Special).— A new elevator is being build at Port Arthur by Stewart Terminals Limit- ed, which is offering $550,000 of 6!z per cent bonds Canadian funds. It is the big elevator to be financed in Canada. For the first six months sales of the H. H. Franklin Manufacturing Com- pany are estimated at more than 7.000 cars. ber will be exceeded in the last half of the year, judging for mid-year re- quests from dealers throughout the countr: New York bank clearings, $411- 000,000. New York bank balances, $79,000,000. New York Federal Re- serve Bank credits, $71,000,000: The Interstate Commerce Commis- slon has granted authority to the St. Paul railway to assume obligation in respect to $13,500,000 equipment trust certificates to be sold at not less than 955 and & similar authority to the Erie road in respect to $7,860,000 equipment trust certificates to be sold not less than 97. COMMODITY NEWS WIRED STAR FROM ENTIRE COUNTRY DETROIT, May 28.—The output from the Ford automobile factories showed no sign of a let-up today from establishment of new high records. The American _plants last week turned out 39,417 chrs and trucks, an increase of 114 over the preceding week. The high daily output for the week was 6,608 cars and trucks. PHILADELPHIA, May 28.—There is somewhat of a lull in evidence today in the wholesale cigar and tobacco market, as dealers became well stocked up during the strong market which obtained this spring. SEATTLE, May 28.—Firms in the wholesale dry goods business which have enjoyed a 35 per cent increase in business so far this year over the corresponding period of 1922 and five per cent above the same months in 1920 today are shifting their and curtailing buying in anticip: of lower prices in the fall and winter. They are 40 days behind in seasona buying and before they catch up ex pect to sight a definite trend in prices. BROCKTON, Mass., May 28.—The shoe strike s now at its height. Man- ufacturers assert they will not deal with the outlaw unions which have seceded from the boot and shoe work- ers, affiliated with the American Fed- eration of Labor. Unlon men who pretend to know the inside of the situation say there is a great deal of union politics involved, and that many workers are staying away from work to avold trouble rather than from sympathy with the strike move- ment. DALLAS, May 28.—Cotton chopping now is in full progress here and much of the Texas crop has been plowed. The crop varies from normal to four weeks late. HOUSTON, May 28.—Wheat is head- ing out generally in this state and harvesting will be under way in a few days. High winds and dry weather have injured the crop in the northwest sections, but other districts report improvement. ST. LOUIS, May 2 ig iron is be- ing offered in this market below the revailing scale, forecasting more or ess general reductions in prices in this territory. although ex- pected to be slight, will not be with- out significance. ATLANTA, Ga., May 28—The state department of entomology has pur- chased another 1,000,000 pounds of calcium_arsenate to be sold to farm- It is expected this num- | side plant at Minneapolis and $2,000,- 000 on the High bridge steam plant at St. Paul. Improvements are con- templated also at the Fargo and Sioux Falls plants. Recent cable reports of negotia- tions for a Hungarian loan were glven additional strength today when it was stated that representatives of many banking institutions are now in Budapest in conference with offi- clals of the Bank of Hungary. Net earnings of the Famous Play- ers-Lasky Corporation for the first guarter of this vear totaled about $1,200,000, equivaient to the annual rate of $16 a share on the junior stock. The steamship Mount Clay arrived today with 30,000,000 German gold marks, consigned to the International Acceptance Bank. TODAY'S PARIS MARKET. PARIS, May 28.—Trading on bourse today was calm. cent rentes, 57 francs 75 centim ixchange on London, 69 francs 75 centimes. Flve per cent loan, 74 francs 90 _centimes. The dollar was quoted at 15 francs 8 centimes. 10 Chapin-Sacks 8% at 100. 20 Chapin-Sacks 7% at 80. 200 Miller Train Control at 2. 200 Scott Gas Appliance at 6. 3 Int. Finance Units at 80. 5 Fidelity Savings Co., bid wanted. Thomas L. Hume, Broker 1412 G St. M. 1346 Send For Our List of 7% FIRST MORTGAGES We have on hand several very choice 43,000 loans running for three years— At 7% Interest Ready for Delivery in a Few Days CHAS. D. SAGER 924 14th M. 36 Mortgages, Loans, Investments. the Three per —_—— BAR SILVER QUOTATIONS. LONDON, May 28.—Bar silver, 32% pence per ounce; money, 1%. D count rates, short bills 2% per cent; three-month bills, 2a21-16 per cent. NEW YORK, May 28.—Forelgn bar silv Mexican dollars, 51%. Money to Loan Becured by first deed of trust on rea! tats. Prevalling interest and _commiss! Joseph I Weller {33, 7eh % Property Owners, Attention! If vour Rental Prop- erties are not producing the best results we sug- gest vou consult us. We specialize in —have on hand, ready for im- mediate delivery, about thirty thousand dollars in gilt edge /€ First Mortgage Notes in Amounts of $250 up to $7,500 A splendid opportunity to in- vest your funds with abso- lute safety and get the maxi- mum return of interest. Title certificate insurance policies 1s- sued to all our loans For full particulars Loan Dept.., Chas. D. Sager 924 14th Street apply || B.F. SAUL CO. MORTGAGE LOANS Main 36 and 37 | L e B el [| 1412 Eye St. N.W. T ! PhoneyMain 2100 2nd or 3rd Trust i 2 Home Furniture | TOANS 3LOANS | —from $100 to $200—made on D. C. Real ] Estate. payable monthly. |Nn brokerag From $50 to $200 on household goods or chattels. 7 per cent interest. No brokerage charged. Come in and let Commercial Loan & Fi Room 311, us explain our method of making small loans. Commercial Loan & Finance Corporatioa Room 211, 921 15th Bt. N.W. System CopyTighted & Patent Pending, E a EQUITABLE Co-Operative Building Association Orgnnzed 1879 434 YEAR COMPLETED $4,657,959.58 $1,180,880.91 Save While You Have the Opportunity. ~You save with the best results by adopting our systematic saving plan. 1 Money to Loan First Mortgages L. W. Groomes, 1416 F St. Quotations By Radio Daily at 10 o’clock from Sta- tion WIAY of Woodward & Lothrop the latest quotations will be broadcasted. Rates by private wire from New York Special phone, Foreign Depar’~ ment, M. 8222, i| The Washington Loan i| and Trust Company i 900 F Street 1 620 17th Strest First Mortgage Loans! Lowest Eates f Interest and Commission, Prompt Actien Thomas J. l::lllt.::. & Company, Inc, Subscription for the 84th Issue of Stock Being Received Shares, $2.50 Per Month EQUITABLE BUILDING 915 F St. N.W. JOHN JOY EDSON, Presideat FRANK P. REESIDE, Secy. Approved Investments Th.eye is one type of investment upon which all authorities agree in their endorsing judgment—First Trust Notes on Washington Real Estate. This particular issue we are offering—on new downtown property—is worthy of special considera- tion. The return is safely and surely 7 We. submit it’s a splendid opportunity to reinvest your Liberty Bond money. Available in $100, $250, $500, $1,000, or more, amounts. Either our Mr. Boss, Mr. Phelps or Mr. Webster will be glad to give you details. Boss and Phelps The Home of Homes 1417 K Street Main 4340 Washington’s Oldest National Bank A Good Business 1 !“ ' Energizer 10 gingin @ A good banking connection is a ETE (% T good business energizer, as innumer- NENgNal2 8 The Oldest National Bank in the ct of Columbia has performed [l great service in the commercial develop- fl-n ment of Washington, and offers you the full strength of its resources, experience Organized in 1814 and facilities to further your endeavors. Our Savings Deft. Pays 3% Compound Interest National Metropolitan Bank Capital, Surplus & Undivided Profits Over $1,700,000 15th St., Opposite U. S. Tua_m—-l@ Years Old II able success‘ul;eople know. New York Curb Association WASHINGTON Minneapolis Chamber of ommerce OFFICE: Main Floor, Woodward Building Office Open Until 5:30 P.M. Phone Main 2040 JOHN CALLAN O’LAUGHLIN Manager CHARLES R. ALLEY Assistant Manager Safeguarding the Investor HE business of Swartzell, Rheem & Hensey Company during the entire 54 years of its existence has been charac- terized by conservatism, stability and an honest and a successful effort to safe- guard its clients’ interests. Our First Mortgage Notes constitute intelligent investment. They are secured on new, high-class property and have as security a tangible asset which you can see for yourself. Available in denomina- tions of $100 and upward. 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We offer, subject to prior sale, a limited issue of First Mortgage Real Estate Loans at 7%, interest, secured on well selected, newly constructed residential property in Northwest Washington. Call or write us for full informa- CONVENIENT DENOMINATIONS $100 $250 $500 $1,000 Ask for Descriptive Booklet “S”"—It’s Free WILLIAM S. PHILLIPS First Mortgage Investments 15th St. at K St. N.W.